TITLE

Raines: Fed Report on GSEs Is Flawed

AUTHOR(S)
Shenn, Jody
PUB. DATE
January 2004
SOURCE
American Banker;1/30/2004, Vol. 169 Issue 20, p8
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
A Federal Reserve working paper's finding that government-sponsored enterprises lower mortgage rates by only 7 basis points will be the "issue du jour" for the next several weeks, Federal National Mortgage Association's chairman said on Wednesday. Franklin D. Raines said at a New York conference sponsored by Citigroup Inc.'s Smith Barney that Federal National Mortgage Association would do its best to refute that conclusion. Robert P. Napoli, an analyst at Piper Jaffray, noted that stocks of both Federal National Mortgage Association and Federal Home Loan Mortgage Corp. rallied last week after Senate Banking Committee Chairman Richard Shelby said he would make their value "a strong consideration" in any legislation.
ACCESSION #
12088906

 

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